Jakarta: The Financial Services Authority (OJK) highlighted the financial services sector's sustained stability in the 2021 first-semester, apparent from improved indicators, including banking intermediation, fundraising in capital market, and maintained prudential ratio in financial service institutions.
"Although domestic economic indicators as of June still show continued recovery, the OJK is observing a decline in mobility due to the implementation of the public activity restrictions (PPKM), which is feared to affect the pace of economic recovery in future," Deputy Commissioner for Public Relations and Logistics at OJK Anto Prabowo noted in a statement in Jakarta, Thursday.
Amid such developments, the domestic financial market remained stable. As of July 23, 2021, the Indonesian Composite Index (IHSG) was recorded to have strengthened to the level of 6,102, or grew 1.9 percent (mtd), with non-resident funds flowing in at Rp2.02 trillion.
The Government Securities (SBN) market was also observed to strengthen, with the average yield on SBN falling 13.5 basis points (bps) across all tenors. However, non-resident investors recorded a net sale of Rp11.73 trillion.
Fundraising in the capital market until July 27, 2021, has reached a value of Rp116.6 trillion, an increase of 211 percent from the corresponding period last year, with 27 new issuers conducting initial public offering (IPO). In addition, public offerings from 86 issuers are still in process, with a nominal value of Rp54.2 trillion.
Meanwhile, the OJK supports the government's program to expedite community vaccination by opening COVID-19 vaccine centers in various regions in collaboration with the financial services industry and the Ministry of Health, with a target of 10 million vaccines by December.
"Acceleration of vaccination is believed to be the main key to building communal immunity, so that the people's mobility can return to normal and the economy can move again," Prabowo stated.
The OJK also pointed to the continued global economic recovery, especially in the world's major economies, along with vaccination rates and mobility that had started to return to pre-pandemic levels.
In addition, the monetary policy in the world's major countries is expected to remain accommodative, thereby reducing the liquidity risk on global financial markets.
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